3540 Adkisson Drive NW Cleveland, TN $ 1,600,000
3540 Adkisson Drive NW
$ 1,600,000
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3540 Adkisson Drive NW

Cleveland, TN, 37312
$ 1,600,000
Baths16.0 Sq 5,022

Monthly Estimate*

$ 9,851

3540 Adkisson Drive NW, Cleveland, TN 37312 - Image 1
3540 Adkisson Drive NW, Cleveland, TN 37312 - Image 2
3540 Adkisson Drive NW, Cleveland, TN 37312 - Image 3
Studio

Multi-Family Home for sale in Cleveland, TN

for $1,600,000 with 16 full baths. This 5,022 square foot home was built in 1986.

This 16-unit multifamily opportunity (two buildings with 8 units each) offers a compelling value-add investment in a high-demand rental corridor adjacent to Cleveland State Community College. The property consists of all 1 bed / 1 bath units, ideally suited for student housing, providing consistent occupancy potential and reliable rental demand. Constructed of low-maintenance brick, the asset includes an on-site laundry facility, creating an additional income stream opportunity. With its prime location near campus, tenants benefit from walkable access to school and a short drive to restaurants, retail, and I-75, enhancing long-term desirability. Value-add potential exists through interior upgrades, rent optimization, and operational efficiencies--positioning this asset for increased NOI and long-term appreciation. Ideal for investors seeking stable cash flow with upside, this property combines location, durability, and scalability in a growing rental market.

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Multi-Family Active

Price

$ 1,600,000

Bedrooms

Studio

Full Bath

16

Property Type

Multi-Family

Taxes

$ 5,907

Style

Other

Year Built

1986

Town/City

Cleveland

County/Region

Bradley

MLS | Web ID

20261430

Features
General
Living Area 5022
Sewer Public Sewer
Heating Central Electric
Cooling Central Air
Utilities Water Connected Sewer Connected Cable Available Electricity Connected
Possession Close Of Escrow
Roof Shingle
Appliances Electric Range Electric Water Heater Refrigerator
Patio/Porch Features See Remarks
Architectural Style Other
Pool Features None
Security Features Smoke Detector(s)
Construction Materials Brick Brick Veneer Other
Year Built 1986
Tenant Pays Telephone Electricity
Levels Two
Property Subtype Apartment
Community Features Other
County Bradley
New Construction false
Property Type Residential Income
HOA false
Attached Garage false
Garage Y/N false
Full Baths 16
Status Active
Directions From Paul Huff Turn left onto Adkisson Dr NW. Property on Left.
High School Cleveland
City Cleveland
Number Of Units Total 16
Carport Spaces 0
Carport Y/N false
Listing Terms Cash Conventional
Elementary School Ross-Yates
Tax Annual Amount 5907.34
Middle/Junior High School Cleveland
Property Condition Functional
Structure Type Multi Family
Standard Status Active
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Interior
Interior Amenities Other
Basement Other
Flooring Laminate
Air Conditioning Y/N true
Heating Y/N true
Half Baths 0
Laundry Features Other
Total Baths 0
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Exterior
Fencing None
Parking Features Paved Concrete
Lot Features Level Cleared
Water Source Public
Foundation Details Brick/Mortar
Lot Dimensions 202 x 201
Waterfront Y/N false
Road Frontage Type City Street
Horse Y/N false
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* Excluded Features
List By
Heath Davis

Listing Agent

Award Realty Ii

Broker

hdavis13@hotmail.com

Email

Affordability Calculator

$10,344
Per Month
95%
5%
0%
Monthly Principal & Interest
$9,851
Monthly Property Taxes
$492
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
1963135 Elementary School
4785214 Middle School
Cleveland High School High School
Pricing History
DatePricePrice ChangeDescription
3/20/2026$1,600,000 Listed Price

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3540 Adkisson Drive NW, Cleveland, TN, 37312 is a Multi-Family Home for sale at $1,600,000 with 5,022 sqft. 3540 Adkisson Drive NW is a studio with 16.0 baths and was built in 1986. The property's zip code is 37312 which is in Cleveland, TN